Trump backs work incentives as part of next stimulus bill

Published 07/01/2020, 01:59 PM
Updated 07/01/2020, 04:00 PM
© Reuters. FILE PHOTO: U.S. President Trump gestures towards reporters during meeting with Japan's Prime Minister Abe meets in New York City, New York

WASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday he supports another coronavirus stimulus bill but wants it to include incentives for Americans to go back to work, setting up a clash with Democrats in Congress over jobless benefits.

Trump said he supports direct payments to individuals as part of the so-called Phase 4 stimulus package.

"I do, I support it, but it has to be done properly, and I support actually larger numbers than the Democrats," Trump said in an interview with the Fox Business Network.

"We want to create a very great incentive to work. So, we're working on that and I'm sure we'll all come together." .

The remarks indicate the Trump administration will oppose an effort by Democrats in Congress to renew a $600 supplement to weekly jobless benefits set to expire at the end of July that was contained in earlier coronavirus relief legislation.

Many Republicans have argued that the supplemental benefit encourages workers to remain unemployed and they would prefer to provide a benefit for workers returning to the job.

Trump said the structure of the last round of financial aid to struggling Americans created a disincentive for people to return to work.

"It was an incentive, not to go to work. You'd make more money if you don't go to work - that's not what the country is all about," Trump said in excerpts from the interview. "And people didn't want that. They wanted to go to work, but it didn't make sense because they make more money if they didn't."

Administration officials have said they will calibrate their response in terms of further stimulus based on economic data set to roll in over the next couple of weeks. Negotiations over another relief bill are not expected to pick up until Congress returns from a break for the July 4 Independence Day holiday.

© Reuters. FILE PHOTO: U.S. President Trump gestures towards reporters during meeting with Japan's Prime Minister Abe meets in New York City, New York

Trump told Fox Business he would meet with Senate Majority Leader Mitch McConnell, a fellow Republican, later on Wednesday to discuss the stimulus package.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.